登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：002709 证券简称：天赐材料公告编号：2025-128 转债代码：127073 转债简称：天赐转债 广州天赐高新材料股份有限公司 关于提前赎回"天赐转债"的第六次提示性公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导性陈述或重大遗 漏。 特别提示： ● 根据安排，截至2025年12月2日收市后仍未转股的"天赐转债"将被 强制赎回，特提醒"天赐转债"持有人注意在限期内转股。本次赎回完成后，"天赐转债"将在深圳证券交 易所摘牌。"天赐转债"持有人持有的"天赐转债"存在被质押或被冻结的，建议在停止交易日前解除质押 或冻结，以免出现因无法转股而被强制赎回的情形。 ● 风险提示：根据赎回安排，截至2025年12月2日收市后尚未实施转股的 "天赐转债"将按照100.29元/张的价格强制赎回，因目前二级市场价格与赎回价格差异较大，投资者如未 及时转股，可能面临损失，敬请投资者注意风险。 ● 特提醒"天赐转债"持有人注意在期限内转股或卖出。 广州天赐高新材料股份有限公司（以下简称"公司"）于2025年11月11日召开第六届董事会 ...

（文章来源：证券日报） 证券日报网讯 11月19日晚间，天赐材料发布公告称，根据安排，截至2025年12月2日收市后仍未转股 的"天赐转债"将被强制赎回，特提醒"天赐转债"持有人注意在限期内转股。本次赎回完成后，"天赐转 债"将在深圳证券交易所摘牌。"天赐转债"持有人持有的"天赐转债"存在被质押或被冻结的，建议在停 止交易日前解除质押或冻结，以免出现因无法转股而被强制赎回的情形。 ...

Group 1 - The chemical sector showed a strong rebound on November 19, with the Chemical ETF (516020) experiencing fluctuations, reaching a maximum intraday increase of 1.6% and closing up by 1.23% [1][2] - Key stocks in the sector included rubber additives, soda ash, lithium batteries, and potash fertilizers, with notable gains from Tongcheng New Materials (up 6.62%), Boyuan Chemical, and Salt Lake Co. (both up over 5%) [1][2] - The basic chemical sector attracted significant capital inflow, with a net inflow of 8.675 billion yuan for the day and a total of 24.828 billion yuan over the past five trading days, leading among 30 sectors [1][3] Group 2 - The Chemical ETF (516020) has seen substantial net subscriptions, with over 370 million yuan in net inflows across three of the last five trading days [3][4] - The price of lithium hexafluorophosphate, a key raw material for electrolytes, has surged to 160,000 yuan per ton, more than tripling since the price bottomed out in July 2025 [3][4] - The supply of lithium hexafluorophosphate is expected to remain tight until 2026 due to production constraints among smaller firms, despite leading companies operating at full capacity [4] Group 3 - The chemical sector is anticipated to benefit from a rebound as the industry moves away from a prolonged bottoming phase, with signs of economic improvement reflected in rising PPI and CPI [5] - The chemical expansion cycle is nearing its end, with various industries, including glyphosate and PTA, beginning to experience upward profitability trends [5] - The Chemical ETF (516020) tracks the CSI sub-sector chemical industry index, with nearly 50% of its holdings in large-cap stocks, providing investors with exposure to leading companies in the sector [5]

Group 1 - The main point of the article highlights that the major funds in the Shanghai and Shenzhen markets experienced a net outflow of 34.842 billion yuan, with the ChiNext board seeing a net outflow of 11.803 billion yuan [2] - Among the 10 primary industry sectors, the non-ferrous metals sector had the highest increase, rising by 2.39%, while the comprehensive sector saw the largest decline at 3.08% [2] - Five industries received net inflows from major funds, with the defense and military industry leading at 2.258 billion yuan, followed by the communication industry at 793 million yuan [2] Group 2 - In terms of individual stocks, the leading stock for net inflow was the optical module leader, Xinyi Technology, with a net inflow of 956 million yuan [3] - The report indicates that the optical module industry is currently in a golden development period driven by AI computing power, shifting the core issue from demand existence to delivery capability [3] - Other notable stocks with significant net inflows include Ningde Times, Yaguang Technology, and Ganfeng Lithium, each exceeding 500 million yuan [4] Group 3 - The media stock Liao Co. saw the largest net outflow at 1.012 billion yuan, with other companies like Huasheng Tiancheng and BYD also experiencing significant outflows [6] - A total of 130 stocks had net outflows exceeding 100 million yuan, with 15 stocks seeing outflows over 300 million yuan [5] - The tail-end trading session recorded a net inflow of 559 million yuan, with the chemical stock Tianci Materials leading at 377 million yuan [8]

天赐材料（002709） | 证券代码：002709 | 证券简称：天赐材料 | 公告编号：2025-128 | | --- | --- | --- | | 转债代码：127073 | 转债简称：天赐转债 | | 广州天赐高新材料股份有限公司 关于提前赎回"天赐转债"的第六次提示性公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 特别提示： 根据安排，截至 2025 年 12 月 2 日收市后仍未转股的"天赐转债"将被 强制赎回，特提醒"天赐转债"持有人注意在限期内转股。本次赎回完成后，"天 赐转债"将在深圳证券交易所摘牌。"天赐转债"持有人持有的"天赐转债"存 在被质押或被冻结的，建议在停止交易日前解除质押或冻结，以免出现因无法转 股而被强制赎回的情形。 风险提示：根据赎回安排，截至 2025 年 12 月 2 日收市后尚未实施转股的 "天赐转债"将按照 100.29 元/张的价格强制赎回，因目前二级市场价格与赎回价 格差异较大，投资者如未及时转股，可能面临损失，敬请投资者注意风险。 特提醒"天赐转债"持有人注意在期限内转股或卖出。 赎回价格：100.2 ...

Group 1: Market Overview - On November 19, the main funds in the Shanghai and Shenzhen markets experienced a net outflow of 34.842 billion yuan, with the ChiNext board seeing a net outflow of 11.803 billion yuan [1] - Among the 10 primary industry sectors, the non-ferrous metals sector had the highest increase at 2.39%, while the comprehensive sector saw the largest decline at 3.08% [1] - Five sectors received net inflows from main funds, with the defense and military industry leading at 2.258 billion yuan [1] Group 2: Individual Stock Performance - The leading stock in terms of net inflow was the optical module company Xinyi Sheng, which saw a net inflow of 9.56 billion yuan [2][3] - The second highest net inflow was for the company Hailu Heavy Industry, amounting to 6.89 billion yuan [2][3] - Other notable stocks with significant net inflows included Ningde Times, Yaguang Technology, and C South Network, each exceeding 5 billion yuan [2][3] Group 3: Sector-Specific Insights - The optical module industry is currently in a golden development period driven by AI computing power, with the focus shifting from demand to delivery capabilities [2] - The main challenges in the optical module production include capacity, yield, and certification, making delivery capability a key competitive factor [2] - The controlled nuclear fusion concept stock Hailu Heavy Industry saw a significant increase, indicating investor interest in emerging technologies [2] Group 4: Net Outflow Analysis - The media stock Liao Co. experienced the largest net outflow at 1.012 billion yuan, followed by Huasheng Tiancheng and BYD, each with outflows exceeding 500 million yuan [4][5] - A total of 130 stocks saw net outflows exceeding 1 billion yuan, with 15 stocks having outflows over 300 million yuan [5]

Core Viewpoint - Lithium hexafluorophosphate is a key raw material for electrolytes, significantly impacting battery energy density, fast charging performance, and safety stability [2][3] Supply and Demand Analysis - The demand for lithium hexafluorophosphate has surged due to the explosive growth in the downstream electric vehicle and energy storage industries, leading to a significant increase in procurement by electrolyte manufacturers [2] - Despite leading companies operating at full capacity, the overall supply remains tight due to the industry clearing caused by previous years of overcapacity, making it difficult for many small and medium-sized enterprises to quickly resume production [2] - As of November 17, 2025, the price of lithium hexafluorophosphate has risen to 160,000 yuan/ton, more than tripling from the price bottom of 50,000 yuan/ton in July 2025, with potential for further price increases as market supply tightness may persist until 2026 [2][3] Price Trends of Additives - The explosive demand for energy storage has also driven up the price of an important additive in electrolytes, vinylene carbonate (VC), which has increased to 60,000 yuan/ton, representing a more than 30% rise from its bottom price [3] - The new production capacity for VC takes approximately 12 months to establish, while the resumption of idle production lines requires 3-4 months, indicating that short-term supply cannot quickly fill the gap [3] - VC is characterized by high entry barriers due to its heavy asset nature, and companies in the industry have been cautious about expanding production after years of losses, with the average price expected to reach 100,000 yuan/ton by 2026 [3] Investment Recommendations - Companies to watch in the lithium hexafluorophosphate supply chain include Tianji Co., Ltd. (002759.SZ), Tianci Materials (002709.SZ), Xinzhou Bang (300037.SZ), Shenzhen New Star (603978.SH), and Duofluor (002407.SZ) [2] - For VC, recommended companies include Huasheng Lithium Battery (688353.SH), Haike New Source (301292.SZ), Lianhong Technology, and Taihe Technology (300801.SZ) [3]

Investment Rating - The report maintains a "B" rating for the new materials sector, indicating a positive outlook for the industry [2]. Core Insights - The demand for energy storage is surging, leading to a continuous increase in lithium battery material prices. Lithium hexafluorophosphate, a key raw material for electrolytes, has seen its price rise to 160,000 CNY/ton, a threefold increase from the low of 50,000 CNY/ton in July 2025. This price surge is expected to persist due to tight supply conditions, which may last until 2026 [4][5]. - The report highlights the significant growth in procurement volumes for lithium hexafluorophosphate by electrolyte manufacturers, driven by the booming demand from the electric vehicle and energy storage sectors [4]. - The report suggests focusing on the lithium hexafluorophosphate supply chain, recommending companies such as Tianji Co., Tianqi Materials, Xinzhou Bang, Shenzhen New Star, and Duofluo [4]. Summary by Sections 1. Market Performance - The new materials index increased by 0.32%, outperforming the ChiNext index by 3.33%. Over the past five trading days, the battery chemicals sector rose by 13.83%, while semiconductor materials and electronic chemicals declined by 1.82% and 2.23%, respectively [2][17]. 2. Price Tracking - As of November 14, 2025, the price of valine remained stable at 12,550 CNY/ton, while arginine decreased by 0.47% to 21,400 CNY/ton. The price of vitamin D3 was 212,500 CNY/ton, unchanged from the previous week [3][28]. - The price of biodegradable plastics, such as PLA, remained stable at 17,800 CNY/ton for injection molding grade and 17,000 CNY/ton for film blowing grade [32]. 3. Investment Recommendations - The report emphasizes the high entry barriers in the industry and the cautious expansion of companies due to years of losses. It predicts that the average price of VC (vinylene carbonate), an important additive in electrolytes, could reach 100,000 CNY/ton by 2026 [5]. - Companies to watch include Huasheng Lithium Battery, Haike New Source, Lianhong Technology, and Taihe Technology [5].

Core Viewpoint - Tianqi Materials has shown significant stock performance with a year-to-date increase of 123.29%, indicating strong market interest and potential growth in the fine chemical new materials sector [1][2]. Company Overview - Tianqi Materials, established on June 6, 2000, and listed on January 23, 2014, is located in Guangzhou, China. The company specializes in the research, production, and sales of fine chemical new materials [1]. - The main revenue sources for Tianqi Materials are lithium-ion battery materials (89.66%), daily chemical materials and specialty chemicals (8.73%), and others (1.61%) [1]. Financial Performance - For the period from January to September 2025, Tianqi Materials reported a revenue of 10.843 billion yuan, representing a year-on-year growth of 22.34%. The net profit attributable to shareholders was 421 million yuan, with a year-on-year increase of 24.33% [2]. - The company has distributed a total of 2.756 billion yuan in dividends since its A-share listing, with 1.922 billion yuan distributed over the past three years [3]. Shareholder Information - As of September 30, 2025, Tianqi Materials had 305,800 shareholders, an increase of 67.71% from the previous period. The average number of tradable shares per shareholder decreased by 40.37% to 4,528 shares [2]. - The top shareholders include Hong Kong Central Clearing Limited, holding 53.68 million shares, and other significant institutional investors such as Quan Guo Xu Yuan and Huatai-PB CSI 300 ETF [3].

Market Overview - On November 18, the trading volume of the Shanghai and Shenzhen stock markets reached 1.93 trillion yuan, an increase of 15.3 billion yuan compared to the previous trading day [1] - Sectors that saw significant gains included Xiaohongshu concept, Sora, internet e-commerce, AI applications, software development, and semiconductors, while sectors that experienced declines included batteries, coal, steel, organic silicon, and industrial metals [1] Stock Performance - High-performing stocks included Victory Co. with six consecutive trading limits, Zhenai Meijia and Jiumuwang with five consecutive limits, and Longzhou Co. and Huaxia Happiness with four consecutive limits [3] - The top three net buying stocks on the daily leaderboard were Aerospace Development, Yongtai Technology, and Dawi Co., with net purchases of 246 million yuan, 221 million yuan, and 182 million yuan, respectively [4] Institutional Activity - The top three net selling stocks were Tianqi Materials, Duofluor, and Zhongsheng Pharmaceutical, with net sales of 504 million yuan, 341 million yuan, and 170 million yuan, respectively [4] - Among stocks involving institutional special seats, the top three net buying stocks were Delijia, Dawi Co., and Yongtai Technology, with net purchases of 125 million yuan, 102 million yuan, and 76 million yuan, respectively [4] Company Highlights - Aerospace Development has completed the production and launch of 22 "Tianmu No. 1" satellites, becoming the first commercial satellite to connect with the China Meteorological Administration's numerical forecasting system [5] - For the first three quarters, Aerospace Development reported revenue of 1.697 billion yuan, a year-on-year increase of 42.59%, with a net loss of 489 million yuan, narrowing by 12.38% year-on-year [5] - Dawi Co. has completed exploration assessments for approximately 2.1 billion tons of feldspar ore, with associated lithium oxide reserves of 32,370 tons, and is advancing the transition from exploration rights to mining rights [6][7] Trading Dynamics - Aerospace Development saw a trading limit with a turnover rate of 25.76% and a total transaction volume of 4.597 billion yuan, with institutional net selling of 49.1 million yuan [10] - Visual China also reached a trading limit with a turnover rate of 16.97% and a transaction volume of 2.646 billion yuan, with institutional net buying of 373,730 yuan [10] - Conversely, Zhongsheng Pharmaceutical and Hailu Heavy Industry both hit the lower limit, with turnover rates of 21.09% and 30.15%, respectively [10][11]